Global Fashion Group (GFG) has announced strong performance in the first quarter of the year, showcasing increased customer acquisition, a solid recovery in repeat customers, and a surge of new brands joining its platform. GFG, the owner of popular fashion webstores including Dafiti, Lamoda, Zalora, and The Iconic, experienced exceptional growth rates across its various regions.

A standout region for GFG was Latin America, where it achieved a growth rate of 28.7% despite challenging macroeconomic conditions and the ongoing pandemic. Additionally, the ANZ operation, covering Australia and New Zealand, performed well and served as a benchmark for post-pandemic recovery. While products related to lockdown categories continued to thrive, “going-out” categories rebounded in line with regional growth.

Financially, GFG saw a significant increase in its net merchandise value (NMV), with a growth rate of 98.5% and a segment participation rate of 35.9%. The total NMV rose by 37.8% at constant currency, surpassing the 13.1% increase observed in Q1 2020. The company’s revenue also experienced a rise of 26.6% at constant currency, outperforming the 13.1% rise from the previous year.

GFG achieved a growth of 25.8% in active customers and witnessed a 3.6% increase in NMV per active customer, reaching €121.90. The gross margin improved from 40.6% to 44.1%, but the adjusted EBITDA margin dropped from 8.3% to 3.8%. Nevertheless, the company’s gross profit increased to €132.9 million.

Looking ahead, GFG reaffirmed its guidance for the full year, expecting NMV to grow by over 25% and revenue to be approximately €1.5 billion on a constant currency basis. The company also anticipates a modest improvement in adjusted EBITDA. Co-CEOs Christoph Barchewitz and Patrick Schmidt expressed optimism about the future, citing the continued rise of e-commerce adoption and the addition of 1.5 million new customers as positive indicators. They remain committed to their goal of building a €10 billion NMV business.

Here are two useful links related to the article:

1. Official Website of Global Fashion Group

2. Canal-Luxe Article on Global Fashion Group